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Friday, November 16, 2012

Greetings from Kiev!Here is this morning’s Ukrainian stock performance summary, from the
Warsaw Stock Exchange, based on the prior trading day's closing bell.As
a whole, the Warsaw Stock Exchange closed up on the day (+0.05%), outperforming most of the
main European markets (FTSE -0.77%,
STOXX -0.45%,
CAC -0.52%, DAX -0.82%, IBEX +0.29%) and U.S.
markets (DOW -0.23%, S&P -0.16%, NASDAQ -0.35%).Looking
at Ukrainian equities in particular
across the Warsaw Stock Exchange, they performed below the main
Warsaw equities index and more in line with global indexes, closing down (-1.09%)
for the day with gains in Westa, Kernel and KSG Agro unable to offset red and white screens among other index names.
From a market depth standpoint, the highest trading volumes occurred in
Westa International Scientific Group (158,242 shares) and Kernel (57,420 shares).

ICE
daily CER price fell again to 0.73
EURO (-5.90%). The
market remains significantly long and participants seem to be pinning
their hopes on supply constraint decisions which could take a long time
to materialize. In the meantime expect more CER and ERU volume to hit the
market between now and year end, coupled with even cheaper forms of UN offsets, pushing prices down and making a rally
difficult.

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About Me

An investment and trading specialist, Jon Queen undertakes capital markets transactions and alternative investments across a broad spectrum of asset classes.
Jon has degrees in Economics from Cornell University and Law from University of Pennsylvania.
Prior to working in the energy and emissions trading space, Mr. Queen was an attorney at Latham & Waktins LLP and a licensed securities representative at John Hancock Financial Services.